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Cannabix Technologies ( (TSE:BLO) ) has shared an update.
Cannabix Technologies announced a non-brokered private placement to raise between $1 million and $2 million through the issuance of units, each comprising one common share and a half warrant. The funds will be used for manufacturing, marketing, and general expenses. The placement includes an acceleration clause for warrants and involves participation from company insiders, with regulatory exemptions applied.
Spark’s Take on TSE:BLO Stock
According to Spark, TipRanks’ AI Analyst, TSE:BLO is a Underperform.
Cannabix Technologies has a low overall stock score due to severe financial challenges, characterized by zero revenue and ongoing losses. While technical indicators and recent corporate developments provide some optimism, the company’s speculative valuation and financial instability remain significant concerns.
To see Spark’s full report on TSE:BLO stock, click here.
More about Cannabix Technologies
Cannabix Technologies is a company operating in the biotechnology industry, focusing on developing breathalyzer technology for cannabis detection. The company is primarily engaged in creating products that aid law enforcement and workplaces in identifying cannabis impairment.
Average Trading Volume: 29,153
Technical Sentiment Signal: Buy
Current Market Cap: C$67.8M
See more data about BLO stock on TipRanks’ Stock Analysis page.